A guide to timeshare compensation claims
Timeshare ownership is not always straightforward, but if you find yourself tied to an unfair contract you could be eligible for compensation.
Purchasing a timeshare may sound like a great opportunity to own your own holiday home but, for many timeshare owners, the dream doesn’t always work out exactly as planned.
In reality, the timeshare industry is plagued by unfair contracts, disingenuous hard-sell tactics, and scams, leaving many owners unhappy and frustrated.
Hidden costs
One of the biggest gripes of timeshare owners is that they often find themselves having to shell out for a slew of hidden costs that weren’t made obvious when they signed the initial contract. Alongside routine maintenance costs and charges for tax and utilities, you could also find yourself having to cover costs such as ‘special assessment fees’ which are used to pay for repairs and property upgrades – and anything else the resort management deems necessary. And even those routine costs we mentioned can be subject to eyewatering increases – up to 12% a year in some cases!
Lengthy contracts
Unfair and lengthy contracts are another common problem in the timeshare industry – and it is something that is often overlooked by new owners in the excitement of completing the purchase. Many timeshares come with ‘in-perpetuity’ contracts that tie you to the property for up to 50 years – or even for life in certain cases! Timeshares can be notoriously difficult to sell on, so, in years to come, you could find yourself stuck with a timeshare that you no longer use or want.
Booking restrictions
Even when you do want to use your timeshare, you could find it difficult to secure your preferred dates. Many timeshares now come with ‘floating week’ contracts which enable you to book a week of your choice within a set time period. However, while this may appear to offer more flexibility, in reality, the most popular dates get booked up incredibly quickly, leaving many owners disappointed. And, if you don’t end up using your timeshare due to booking difficulties, you’re faced with the option of renting it out or considering it as a loss for that year.
Compensation claims
While timeshare problems can be upsetting and frustrating – not to mention costly – there is something you can do about it. If you have experienced any of the scenarios listed above, you could have an eligible claim for timeshare compensation – and a growing number of unhappy timeshare owners are choosing to go down this route.
Pursuing a timeshare compensation claim can be a costly and complex process, so if you are considering this option, there are some things you need to know. Firstly, you need to have all your paperwork in order before you begin – this will help to give you an overview of your situation and will be vital information for any lawyer who takes on your case.
Secondly, beware of scams. There are lots of unscrupulous people out there who are only too happy to take advantage of dissatisfied timeshare owners, so it’s important to keep your wits about you. Be wary of anyone who calls out of the blue to offer assistance, and refrain from giving out any personal details, unless it’s to someone you know and trust.
Thirdly, but perhaps most importantly, before you embark on a claims process always seek the advice of specialist timeshare solicitors. They can offer the knowledge and expertise to guide you through the process and help you to achieve the positive result you’re looking for.
